Kuwait National Petroleum Company announces production cuts.

Kuwait National Petroleum Company announced on the 7th that, due to factors such as the threat of US-Iran conflict affecting the safety of ships passing through the Strait of Hormuz, as well as a shortage of ships transporting crude oil and petroleum products, the company has encountered "force majeure" and has started to reduce crude oil production and refining processing. According to foreign media reports, the company did not disclose the specific scale of the production cut, but stated that this reduction is a precautionary measure and will be evaluated based on the situation, with plans to restore production capacity when conditions allow.